Short

Short Of The Year

Updated

Roku is positioned to be my short of the year. With the Bollinger bands giving a double sell signal, Divergence+ giving a triple sell signal, and a RSI that has sat above 70 for a record amount of time this month. We are positioned for a very strong sell off. Roku is simply overbought and the bears are getting stronger and about to have full control of this stock. The red shadow above the recent candles shows divergence. The best indicator to look at is the MACD at the bottom of my chart. Paths have crossed at the top and will fall as the bullish volume bars are declining rapidly. If you look at the difference in price indicator, ( a script I created ) you can see that the price change per candle on the 45min has become less volatile. Expect to see some spikes like on the 9th except these spikes will be downward price movement. My strategy is to buy ROKU within the first 30min of the open. It could jump in price with Monday Morning Market euphoria, and begin to trickle down from there. I have a target price of $247 and I believe that can be reached before the end of the month. I plan on purchasing 25 contracts with a strike price of $250 expiring 11/27. Looking to make my biggest options return of the year. Apple still holds my record for this year at a 6k profit but I see potential to make 10k+ with Roku. Follow to watch the big win, or loss.

Comment your thoughts below!

Trade active

Purchased 15 contracts for a strike price of $250

$3.60 a contract

Note

I just want to thank everyone for all the comments! Love the support.

Myantman101

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.